Hello @teddanioni, It is not possible to hide the site title without changing to another layout. The site title can be incredibly helpful for end users to understand where the content is coming from. You may want to edit your home site title in Site Information to make it more descriptive or match your branded portal name.
The special branding on that label comes because your home site is an organizational news site by default. See: https://docs.microsoft.com/en-us/sharepoint/organization-news-site. You can actually remove the "branding" by running PowerShell to take away that super-power, but I wouldn't recommend it because then you will lose another super-power of org news sites - the ability to "boost" news posts. Instead, I agree with Emily that you should consider re-naming the site to be something more relevant to these "official" news articles like News@Contoso or the name of your intranet or Company News. That little banner is super handy whey you see news in other contexts - like in the app bar or in posts in your feed in the mobile app and virtually every other place your users consume news.